UK private equity firm Apax Partners is to create one of the world’s largest enterprise software providers through the acquisition of Epicor Software Corporation and Activant Solutions, with a combined deal value of $2bn.

Apax is to combine the Nasdaq-listed Epicor, which provides enterprise business software solutions for the mid-market and divisions of large corporates, and mid-marketbusiness management software solutions provider Activant to create an entity with over 30,000 customers and $825m in annual revenues.

The transaction is expected to close in the second quarter of 2011, with the new company to be known as Epicor Software Corporation following the close of the deal.

Apax partner Jason Wright said, “We are extremely excited to be bringing together two premier enterprise software companies through this innovative transaction to create a global market leader.

“Epicor is a true innovator, offering deep industry-specific functionality globally across its targeted verticals. Activant is a recognized leader in providing comprehensive enterprise resource planning and point-of-sale software to the distribution and retail markets predominately in North America,” he added.

TMT is one of Apax’s key focuses, with other companies in its portfolio including Latin American software services provider TIVIT, IT security company Sophos, IT services provier iGate/Patni, and healthcare enterprise solutions proviuder TriZetto.